Candidates seek backing after Bloomberg decides not to run

New York City mayor Michael Bloomberg answers reporters questions at a news conference. Photograph: Don Emmert/AFP/Getty

The New York mayor, Michael Bloomberg, opened a bidding war between presidential candidates for his support yesterday after finally opting against an independent run for the White House.

Making his announcement in the New York Times, the multi-billionaire dangled the prospect of his backing in return for policy pledges from the candidate that comes closest to his own views. He wrote: "I listened carefully to those who encouraged me to run, but I am not — and will not be — a candidate for president … I am hopeful that the current campaigns can rise to the challenge by offering truly independent leadership. The most productive role that I can serve is to push them forward, by using the means at my disposal to promote a real and honest debate."

He said he would help the candidate prepared to buck party orthodoxy: "If a candidate takes an independent, nonpartisan approach — and embraces practical solutions that challenge party orthodoxy — I'll join others in helping that candidate win the White House."

He did not specify what help he would give. US election funding laws are complex and there are limits on individual contributions. But he is important in other ways, with a formidable talent as a fundraiser.

Bloomberg, who was Democrat, then Republican and is now an independent, was more likely to have stood if the candidates were polarising figures, allowing him to appeal to independents. But John McCain, who is close to winning the Republican nomination, has a strong appeal to independents and so too does Barack Obama, still fighting Hillary Clinton for the Democratic nomination.